This paper examines the use of location quotients, a measure of regional business activity relative to the national benchmark, as an indicator of sectoral agglomeration in small cities and towns, and as a measure of industry specialization that might impact the number of new business startups in...

This paper aims to explain key concepts of the EU Taxonomy for Sustainable Activities, a commonclassification system established to clarify which investments are environmentally sustainable.Additionally, it provides insight on the compliance of corporate activities with the EU...

Asset returns exhibit grouped heterogeneity, and a “one-size-fits-all” model has been elusive empirically. This paper proposes a Bayesian Clustering Model (BCM) combining Bayesian factor selection and panel tree for asset clustering. The Bayesian model marginal likelihood guides the tree...

Jumps in high-frequency financial prices are identified by an enhanced non-parametric method and their empirical intensities are investigated. A point-process framework is used to estimate the degree of clustering among the detected jumps. We compare several clustering functions of the jump...

We study the informational content of factor structures in discrete triangular systems. Factor structures have been employed in a variety of settings in cross sectional and panel data models, and in this paper we formally quantify their identifying power in a bivariate system often employed in...

The Pareto Principle, known as the 80/20 rule, predicts that most sales generate from a minority of buyers. Further, consumer theory stipulates certain shoppers have a preference to consume experience versus tangible goods. Some people value the consumption of experience due to lifestyle and...

Emerging literature focuses on insurers' earnings management using estimated liability for unpaid claims, known as loss reserve. An insurance company generally uses the traditional estimation methods with linear estimation to measure loss reserve error, but those methods are often criticized for...